Heavy equipment maker Caterpillar Inc. said Monday that it will acquire certain assets of Gremada Industries Inc., which reclaims and remanufactures metal components.

Financial terms were not disclosed.

The agreement was signed on Sunday and the deal is expected to close when legal and regulatory requirements are completed, Caterpillar said.

West Fargo, N.D.-based Gremada remanufactures and reclaims metal parts and components used in transmissions, torque converters and final drives, Caterpillar said.

It also services equipment used in the mining and petroleum industries, and provides remanufacturing support for equipment used for petroleum drilling applications.

Caterpillar officials said that the addition of Gremada will increase its overall product and service offerings and boost the growth of its remanufacturing business.

Caterpillar shares fell 64 cents to $80.86 in morning trading.

This entry was posted on Tuesday, June 17th, 2008 at 9:32 am and is filed under Construction Equipment, Construction Machinery. Tags: Arts, Caterpillar, Caterpillar Inc., equipment maker, Fargo, Gremada Industries Inc., metal, metal components, Metal parts, mining, Mission, North Dakota, overall product, petroleum drilling applications, services equipment, West Fargo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.